Three more retailers have committed to the premium shopping quarter at thecentre:mk as the development strategy for the shopping centre continues to bear fruit. The arrival of jeweler Thomas Sabo, furniture retailer Dwell and cosmetics firm L’Occitane has given the centre’s premium area critical mass. The three retailers join existing tenants such as Phase 8, Carluccio’s, Kurt Geiger and shoe retailer, Jones.
The new occupiers will be joined by iconic Italian restaurant chain Jamie’s Italian Kitchen which intends to take a 6,400 sq ft restaurant in the premium quarter. “The new tenants demonstrate the success of the well-considered strategy to create a more compelling offer for shoppers. The centre’s owners have taken a long term view and concentrated on kick-starting the premium area rather than focusing on short-term levels of rent” says GCW director Duncan Kite. “Milton Keynes acts as a regional centre with its huge catchment area and has succeeded in attracting tenants that meet the high expectations of shoppers” he adds.
Thomas Sabo takes a 1,600 sq ft unit for £125,000 pa with nine months rent free; L’Occitane takes a 1,350 sq ft unit at £85,000 pa or 10 per cent of turnover with 10 months rent free; and Dwell a 3,900 sq ft unit for £175,000 pa, all on 10 year leases.
thecentre:mk appointed GCW as joint letting agents with CBRE early in 2008.